Supreme Court · 1999 INSC 20 · Decided 21 January 1999
State Bank of India v. Yasangi Venkateswara Rao
- Court
- Supreme Court of India
- Citation
- 1999 INSC 20 · [1999] 1 S.C.R. 213
- Case number
- CIVIL APPEAL No. 4607/1989
- Decided
- 21 January 1999
- Bench
- B.N. KIRPAL, S. RAJENDRA BABU (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Constitution
Headnote
B _... Banking Regulation Ac~ 1949: Section 21-A (as inselted in 1984)-Provided that banking transaction not to be reopened by any cowt on ground that interest rate of such transac- c ti on is excessive--Preliminary decree was passed by trial coult in a suit for recovery of money and upheld in ground that S.21-A was ultra vires-Held: S.21-A deals with question of rate of interest. charged by a banking company, whether to an agricultwist or non-agricultwist-1herefore, reference to Enfly D 30 of List II dealing with relief of agriculture indebtedness is of no conse- quence-Hence, S.21-A
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